Spodek Law Group

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NYC Commodities Fraud Lawyers

It’s becoming increasingly difficult for people to ensure they’ll have a financially secure future. This leads many people to turn to other means of income, including commodities. This can feel like an excellent way to secure financial stability for years and years to come, stretching far beyond retirement.

Unfortunately, when it comes to commodities, many banks, brokers and traders often find themselves under investigation for fraud. Investors often blindly trust the people who are advising them, but sometimes those financial experts are more interested in making money for themselves than protecting their clients. This can trickle down to the financial experts who didn’t intend to commit fraud, but who find themselves faced with charges. If you’re part of a commodities fraud case, especially if you’ve been charged with committing fraud, you’ll need an experienced lawyer to fight for you.

Commodities Fraud

The FBI defines commodities fraud as the sale or the appearance of a sale of commodities that is carried out in an illegal way. While this is a white collar crime, the court system takes it extremely seriously, and the penalties reflect there. There are several types of penalties you could face, including several years or even decades in prison, as well as extremely high financial penalties.

If you’ve been charged with commodities fraud, don’t lose hope. It’s common for the authorities to make you feel like you have no options and that a conviction is inevitable, but that’s not necessarily true in every case. An experienced commodities fraud lawyer will be able to create the best strategy possible for your specific case. They will also prepare you for additional charges you’re likely to face and work to build the best strategy around them as well.

Commodities Cases are Complex

The fact that commodities cases are notoriously complex will work in your favor. Most juries and judges don’t have in-depth knowledge of the commodities or financial markets, meaning that it’s difficult to clarify the case’s specifics and details in a way that a layman can understand, which is something that the prosecution struggles with. If the prosecution isn’t able to communicate their points in a clear and understandable way, it won’t make much of a difference how correct or accurate they are – confusing the judge and jury doesn’t often go in their favor.

Additionally, there are usually numerous transactions that take place in a commodities case, and it’s often difficult for the prosecution to clarify the defendant’s intent in each and every transaction. All of this complexity makes it easier for the defense to poke holes in the case, which makes both the judge and jury doubt the charges. The more transactions there are, the more opportunities there are to prove the prosecution wrong, or to at least cast confusion or doubt. An experienced commodities fraud lawyer will know what to do in order to turn the jury in your favor.

Penalties for Commodities Fraud

White collar crimes like commodities fraud can come with some very serious penalties. Prison sentences can range anywhere from ten to 25 years, and sometimes even upwards of that. Also, a lot of people assume that committing a white collar crime means you’ll be placed in a low-security prison, but that isn’t always true. You could find yourself in a medium-security or even a maximum-security prison.

Fines are extremely high for commodities fraud, too, and can exceed a million dollars. Additionally, defendants are often charged with additional charges like wire or mail fraud, or embezzlement. You need to hire a commodities fraud attorney who has experience in all of these areas so that they can create a well-rounded and solid case.

Contact a Lawyer

If you’ve been charged with commodities fraud, you’re up against serious and complex consequences, both civil and criminal. It’s imperative that you have the best lawyer working for you. Your lawyer will work to resolve the case in a beneficial way for all parties; to create the right defense strategy; or to negotiate a plea bargain. They will also know exactly how to use the complexity of the case in your favor.

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